Why do some microstates, especially those in Europe, tend to be immensely wealthy? e.g. Monaco, Singapore, San Marino
In: 350
So one metric of wealth is gdp/capita, meaning basically the value of the economy of a country divided by its population. Now lets say that you have an economy that doesn’t rely on having a large population size, like tourism, banking, gambling or being a tax haven.
If you have a tiny country you can have a relatively big economy attracting foreign wealth while also having a very small population, which makes the gdp/capita unusually large.
Like if I have a country of say 10 000 people but all the major countries of the world store their money in my banks then the amount of capital moving through my country is going to be massive compared to the population.
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